Need Help?
Need professional advice for your consent to let with Hodge Life? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Frequently asked questions relating to Hodge Life consent to lease
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What do I do if my application to obtain consent to let is turned down by Hodge Life?
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Finding myself in an impossible situation with a Consent to Let home loan. In response to requesting consent to let my bank has asked me to provide them with an executed Assured Shorthold Tenancy prior to issuing permission. If I get a signed tenancy agreement would I not be violating the lender’s terms and conditions?
- I acknowledge that I have been extremely naive in not informing Hodge Life that I’m letting my house out. I would like rectify the situation and seek consent to let. If Hodge Life says yes, is there any way of them knowing historically that the property was let without consent?
- To what extent do the letting agents we rented through owe us a duty of care to have checked that the landlord attained consent to let from Hodge Life?
- Prospective tenants are about to move into my property and I have mortgage offer from Hodge Life on new house on condition of consent to let for original house. How long should it take to receive letter once I send back a completed application with cheque.
- I am considering moving in with my girlfriend but would rather not to sell my flat. What is the process for requesting consent to let from Hodge Life, and what are the chances that this will be granted?
- Am I required to negotiate consent to let if I rent to a family member (in my situation my brother now lives there and contributes towards the Hodge Life mortgage)?
- Please could you confirm what the process would be if we move to a second property and need to get consent to let for our existing mortgage with Hodge Life
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in conjunction with the above Hodge Life consent to let Questions and Answers
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Hodge Life your property may be repossessed